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Canadian Wireless Carrier Rogers Cashes In On Smartphones

Canadian wireless carrier Rogers has posted higher-than-expected profits and revenue in the first quarter of 2011, building on rise in popularity of Smartphones.

The company reported a net income of Canadian $335 million or 60 cents a share down from $368 million or 62 cents a share from the same quarter last year.

However, after excluding some items, the net income was at $423 million or 76 cents per share topping analyst estimates of 72 cents a share.

The company also revealed that its revenue during the first quarter ending March 31st increased by four percent to $2.99 billion, out of which $1.72 billion was contributed by its wireless division, $953 million was generated by its cable TV services and media entertainment services generated revenue of $339 million.

“We've maintained solid top line growth rates as a result of continued investments in our customer relationships, networks and products supported by a sharp focus on wireless data and subscriber retention initiatives,” Nadir Mohamed, President and Chief Executive Officer of Rogers Communications, said in a statement.

“While at the same time, our successful focus on managing costs has enabled continued strong margins and the generation of substantial free cash flow,” he added.

Ravi Mandalla was ITProPortal's Sub Editor (and a contributing writer) for two years from 2011. Based in Ahmedabad, India, Ravi is now the owner and founder of Parity Media Pvt. Ltd., a news and media company, which specializes in online publishing, technology news and analysis, reviews, web site traffic growth, web site UI. Ravi lists his specialist subjects as: Enterprise, IT, Technology, Gadgets, Business, High Net Worth Individuals, Online Publishing, Advertising, Marketing, Social Media, News, Reviews, Audio, Video, and Multi-Media. He has also previously worked as Dy. Manager - IT Security at (n)Code Solutions.